Institute of Solomon Islands Accountant

INSTITUTE OF SOLOMON ISLANDS ACCOUNTANTS

MEDIA RELEASE - PROFESSIONAL DIPLOMA PROGRAM GRADUATION 2023

Title: ISIA congratulates graduands of Australian Funded Professional Diploma in Accounting Program.

Thirty-nine public sector and private sector accountants graduated with their Professional Diploma in Accounting from the Institute of Solomon Islands Accountants on Monday 11 September.
The inaugural graduation ceremony marked the successful completion of ISIA’s pilot of its professional development program, the Professional Diploma in Accounting. The Australian Government funded the pilot as part of its broader support to the Institute. ISIA delivered the pilot in collaboration with the Institute of Public Accountants, Monarch Institute, and Pearson Vue.
 

ISIA CEO, Pamela Naesol-Alamu said ISIA is focused on raising the standards of the accounting profession in the country. “To raise the standards, we need to develop a pool of highly competent accountants, and professional development programs such as the Professional Diploma in Accounting are aimed at equipping accountants with technical knowledge and enhance their capability to provide high quality services to their employers and clients”. The pilot was recently completed in July 2023 with the successful roll-out of four modules which covered key accounting competencies for technician accountants and registered book-keepers. This included a Tax & Law module contextualised to the Solomon Islands tax system and Company Law.

Speaking at the graduation ceremony, Australian Deputy High Commissioner to Solomon Islands, Sally-Anne Vincent, said, “Under the Australia-Solomon Islands Economic partnership Australia’s support to ISIA and the pilot program recognises the great need for professional development opportunities for accounting professionals and practitioners in Solomon Islands. A strong pool of professionals and practitioners can raise the standards of the accounting sector across Solomon Islands which underpins good governance and accountability and promoted economic stability”

I acknowledge the support and the role the Government of Solomon Islands in providing an enabling environment for this important development which supports long-term economic growth in the country”.

Institute of Public Accountants President and Board Chairperson, Julie Williams, said, “Accounting isn’t just about numbers, it’s about the social contract that exists between all of us. The future of accounting will be broad, transdisciplinary, and focus on problem solving, but accounting will still be the core of the profession”.

“Australia and the Solomon Islands are neighbors and long-time friends. The IPA Group is committed to capacity building in the Asia-Pacific, and we hope that the ISIA - IPA Professional Diploma of Accounting program will help prepare graduates for the future of the profession,” said Williams.

ISIA CEO expressed her sincere gratitude and appreciation to all ISIA’s key partners. She added, “our success in developing the accounting profession in Solomon Islands would not have been possible without the ongoing support from the Governments of Solomon Islands and Australia. Over the last eight years, Australia has financially supported key projects of the Institute. This includes the piloting of this Professional Diploma Program through the Australia Solomon Islands Partnership for Governance Program. The Government of Solomon Islands has ensured appropriate laws and regulations are in place that also enables ISIA to deliver its mandate.” ISIA intends to provide more professional development opportunities to enhance accountants’ knowledge and skills in the country, and a professional membership pathway for its members to allow them to progress toward higher professional accreditation.

Employers, business houses and everyone that rely on the services of accountants should support the work of the Institute as Solomon Islands stands to gain many economic benefits when the local accounting profession is strong. End:// For more information, contact ISIA Media on This email address is being protected from spambots. You need JavaScript enabled to view it. or call 20131

In a significant step towards enhancing the business advisory landscape in the Solomon Islands, sixty business advisors from across the nation gathered last week to participate in skills development workshops. 

Funded by the Asian Development Bank (ADB) and delivered in collaboration with the Institute of Solomon Islands Accountants (ISIA), the Solomon Islands Chamber of Commerce & Industries (SICCI), DT Global, and the Government of New Zealand's Business Link Pacific Program, the workshop catered to a diverse pool of experienced and emerging business advisors, equipping advisors with skills vital for effective business advisory. The workshops were held from 10 to 11 August and 15 to 16 August, 2023.

Acknowledging the pivotal role advisors play in nurturing commercial ventures, Barbara Wilkinson, the facilitator, expressed, "Businesses perform so much better when they have the support of an expert advisor at their side, whether they be accountants, marketing experts, HR advisors, or IT specialists."

The training aimed to assist and encourage advisors to provide more comprehensive services, adding value for their clients. Wilkinson further noted, “It was great to see such a strong uptake from both very experienced business leaders as well as those starting out with their advisory practice. The advisor network is growing in Solomon Islands, offering a range of services that go beyond accounting and marketing advice. Climate change advice, doing business digitally and help with exporting are just some of the other services businesses can access from a business advisor.” 

A good starting place for businesses to find help is the www.BusinessLinkPacific.com website where they can find an advisor, access subsidies, apply for business grants and access a range of online business tools.

The workshops were funded under the ADB’s COVID-19 Business Recovery Initiative that is operating across six Pacific Islands countries, including Solomon Islands, until December 2024. The program takes a multi-faceted approach to aid businesses in their resurgence after the pandemic by facilitating access to finance, providing complimentary business recovery planning services to pandemic-affected entities, improving the capabilities of business organizations such as ISIA and SICCI, advancing women's economic empowerment, and strengthening the Government's efforts to cultivate a favorable business environment in the new normal.

ISIA's CEO, Pamela Naesol-Alamu, emphasized the implications of this training, stating, “With this training, we hope that our members and practitioners will be able to expand their accounting and finance skills and expertise into the business advisory space. With the existing knowledge and skills that they possess, accountants are well placed to be expert business advisors, so this is an important training for them.” 

Muriel Dakamae, a workshop attendee, underscored the value of this opportunity, stating, “it’s an opportunity to broaden our knowledge, skills, networks, and systems needed in an advisory practice. Being a successful business advisor requires a thorough understanding of a range of business issues, effective communication, a strong work ethic, and a genuine desire to help business thrive in our challenging Solomon Islands context”.

Rhibbie Auma, Acting CEO & Executive Officer of SICCI, praised the pioneering nature of this initiative, remarking, “it’s the first time we’ve had training like this in the Solomon Islands, for business advisors. The workshops covered important skills that business advisors need to confidently provide meaningful services that support business growth.” 

As the business landscape in the Solomon Islands continues to evolve, ISIA and SICCI remain steadfast in their commitment to providing professional development opportunities for their members and practitioners. ISIA's CEO summarized this dedication, stating, "We want to ensure that our members have what it takes to deliver quality services and add value to the businesses they serve."

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The Institute of Solomon Islands Accountants (ISIA) and the Solomon Islands National University (SINU) had signed a historic Memorandum of Understand (MOU) on Friday 5th of August 2022. 

The objective of this MOU is to strengthen and enhance cooperation between ISIA and SINU in the development of a competitive human resource manpower that meets the needs of the accounting profession and business sector

Date: 02 December 2020 (ISIA):

The Institute of Solomon Islands Accountants’ (ISIA) recently launched its new Strategic Plan 2021-2025 which aims to significantly improve on the way the Institute is regarded both domestically and internationally.

The five- year plan targets nine key strategic areas for development which aims to position the Institute to be able to effectively deliver on its mandated roles and responsibilities under the Accountants Act 2010.

Aimed at ensuring ISIA’s sustainability as a professional accounting body, the plan seeks to invest in developing both the institute and its members as well as the domestic accounting landscape.

It also seeks to broaden ISIA’s acceptance with relevant international bodies while encouraging strong relations and partnerships with the government, private sector and donor community at home.

The visionary plan is unique in the sense that it was adapted in the middle of a domestic recession brought on by the impacts of the COVID-19 pandemic holding most global economies at ransom.

This means that the outlier event - and possible similar future events - are now ingrained into the formulation of the Institute’s planning processes.

The Institute’s brand transformation reflects its updated and more detailed Vision ‘to be an international standard professional accounting organisation that provides leadership and builds trust in the accounting, assurance, finance and business advisory professionals in Solomon Islands’.

Building on this Vision, the Institute’s first strategic area for development involves its own membership, seeking to improve on their core competencies in a complex and changing environment.

This strategic priority will involve the development of certification programs tailored to internationally accepted standards that meet the specific needs of the Institute’s members.

In addition to this development, the Institute will also seek to broaden ISIA’s membership base to target all finance related positions and advisory roles in both the private and public sectors.

Professional development will also be targeted as a key area for development.

Under the new strategic plan, the Institute will seek to make available professional and educational programs that meet members’ and market needs.

According to the strategic plan, these programs are envisaged to cover a wide range of competencies and skills from traditional accounting to multidisciplinary roles.

The rules and standards by which accountants operate are also covered under the new plan.

The strategic focus here will be to align the Institute’s governance and practices to international best practices.

This development will see advances within the local regulatory environment such as changes to the Accountants Act and the implementation of rules that adopt internationally recognized standards in accounting, auditing, assurance and quality control, ethics, public sector accounting and accounting education.

A more proactive outreach effort and improvements to the timely communication of the Institute’s affairs are another two key areas for development under the strategic plan.

With a dip in membership numbers, the institute will continue with domestic and regional marketing initiatives aimed at making ISIA’s brand more appealing to current and future members.

Part of this appeal will include ensuring that the Institute’s Secretariat will be able to deliver effective support services to the Institute’s members while operating on a financially sustainable model.

The Institute will also seek to enhance its usefulness to members by seeking out ways to effectively communicate issues related to the accounting profession.

Proactive engagement and the building of relations with key stakeholders in the private and public sectors is another strategic pillar of the plan.

This area of development will see ISIA positioning itself to become a partner of choice with the Government on issues of national interest while enhancing private sector growth by positioning itself as an advocate and source for meaningful advice. The Institute’s updated Strategic Plan was formally adopted by ISIA after its formal acceptance at the institute’s Annual General Meeting on the 26 th November 2020.